Loading…
WTI fell 4% to settle at $90.66 a barrel, its lowest since early February. A government report showed crude stockpiles rising by more than 4 million barrels while US gasoline demand dropped.
A bearish inventory build and weaker gasoline demand point to looser US supply and demand balances, pressuring crude and energy costs for feed operations.
bloomberg.comJulia FanzeresAug 3, 2022After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
